We must seek the wisdom needed to decide the right amount—and
just the right amount—of money the State can afford to spend on the
needs which are essential to its people. There will be demands for ex-
pansions and improvements of services and institutions. There will be
pressures by local governments for more State assistance to finance
schools, hospitals, public welfare, police and other functions. Our pur-
pose is to know how far to go and when to stop.

We must approach the budget of your State in much the same manner
as a sensible man approaches his individual financial problems. That is
to say, we must survey our earning prospects, weigh our needs and bring
the two together into a reasonable, workable arrangement.

Julian Baird, the Under Secretary of the Treasury of the United States,
painted a glowing picture of the future of this country in a statement he
made recently. He said we are entering the most prosperous era in the
history of our nation. He predicted that America will double its pro-
ducing capacity within the next 25 years. He foresaw the creation of
from 35 to 40 million new jobs during that period....

But then he added this note of caution. He said the goals were attain-
able, "but only if we have the informed public opinion, the will and the
courage to maintain sound financial policies which are essential to
healthy and sustainable growth. "

Maryland, of course, will enjoy this period of almost unbelievable
prosperity with the rest of the country. So long as I am Governor, I
shall insist that our State government be operated under sound financial
policies. I know that I will have the support of good citizens everywhere
in the pursuit of that objective.

ADDRESS, NATIONAL OFFICE MANAGEMENT ASSOCIATION

SALISBURY

April 25, 1960

I am honored to be the guest this evening of the National Office
Management Association. The subject of my talk, "Present State Fiscal
Policies, " was suggested by the men in charge of the program of this
meeting. As the chief executive officer of an organization—the State of
Maryland—which currently is spending nearly a half-billion dollars
annually, the subject of government financing quite naturally is of great
interest to me.

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